Corning raised its LCD glass sales in the second quarter because of the unexpected demand.
"the glass demand in the second quarter is much more prosperous than we expected a few weeks ago. The pendulum impact tester is a common product," James flowers, chief financial officer of Corning, said in a statement on Tuesday. "Therefore, we expect that the sales volume of the company's wholly-owned enterprises in the second quarter will increase. By the end of May, Corning had raised its sales forecast to an increase of 75%. At first, it was expected that the growth would exceed Corning's forecast. It and South Korea's Samsung Electronics (005930. KS) The sales volume of Samsung Corning precision glass, a joint venture of Samsung Corning, is expected to increase by about 50% in the second quarter, which is better than the previously expected increase
Corning expects the LCD glass shipment in the third quarter, which is in line with the second quarter estimate that the raw material industry in Liaoning Province will initially realize the transformation and upgrading of industrial structure and the optimization of industrial layout after the increase. As the demand will be higher than its manufacturing capacity, the company's production capacity is expected to be tight.
therefore, Corning said it would give priority to customers who have signed long-term supply agreements
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